2012-2013 Budget Information. 1 OUR School District…OUR Children This helps to maintain and increase property values We achieve this through a serious.

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Presentation on theme: "2012-2013 Budget Information. 1 OUR School District…OUR Children This helps to maintain and increase property values We achieve this through a serious."— Presentation transcript:

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1 OUR School District…OUR Children This helps to maintain and increase property values We achieve this through a serious and balanced approach to year-round fiscal responsibility Excellent and Award-winning Educational Programs

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2 Budget Process  At all times during the process, the goal is to maintain the highest quality of excellence in our educational program for our students as possible. Our students’ needs come first!

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Sources of Revenue Revenue is comprised of four sources: local, state, federal and fund balance.  Local revenue sources include real estate taxes, Per Capita taxes, tuitions, earnings on investments and miscellaneous revenue.  State revenue sources include state subsidies for Basic Education Funding, Special Education, and Transportation, State Property Tax Relief, Reimbursement for Retirement payments.  Federal revenue source consists of Title I & II and ACCESS funds that have restricted uses.  Fund balance is the difference between net assets and liabilities and results when revenues are greater than expenditures. It’s often referred to as a savings account, but does not consist of only cash.

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The Act 1 Index The Act 1 Index is a result of the Taxpayer Relief Act of 2006, which established limits on tax increases. The Index is calculated based on the percentage of increase in the State Wide Average Weekly Wage (SAWW) and the percentage increase in the national Education Cost Index (ECI). The SAWW is determined by the Department of Labor and Industry in the same manner as the Unemployment Compensation Law and it is calculated on the previous calendar year. The ECI is also based on the previous 12-month period beginning July 1 st through June 30 th using Elementary and Secondary school data reported by the Bureau of Labor and Statistics. Fiscal Year 12/13 11/12 10/11 09/10 08/09 07/08 06/07 SAWW $872 $855 $847 $825 $788 $756 $735 ECI 116 114 112 109 105 101 97 SAWW % + 2.1% 0.9% 2.7% 4.6% 4.3% 2.8% 4.2% ECI % + 1.3% 1.9% 3.0% 3.6% 4.5% 4.0% 3.5% Base Index 1.7% 1.4% 2.9% 4.1% 4.4% 3.4% 3.9%